The report found that the average equity fund Investor showed no abnormal withdrawal patterns from equities, even in March. “In fact, the withdrawals from equities in January were greater than they were in March, when the market downturn began to accelerate to frightening levels,” Dalbar said.
The average active equity fund investor and average equity index fund investor showed little difference in returns; however, the average index fund investor earned a slightly better return.
Dalbar said it uses data from the Investment Company Institute, Standard & Poor’s, Bloomberg Barclays Indices and proprietary sources to compare mutual fund investor returns to an appropriate set of benchmarks.